§ 27-7-2.3 - Insurance rate adjustment.
SECTION 27-7-2.3
§ 27-7-2.3 Insurance rate adjustment.– The insurer shall be responsible for maintaining records of all judgmentsentered by the court that require the insurer to pay an amount in excess of apolicy coverage limitation due to the failure of the insurer to settle a civilaction in accordance with the provisions of § 27-7-2.2. No payments madeby the insurer in excess of a policy coverage limitation shall be incorporatedor used by the insurer in any subsequent rate adjustment on affected liabilitylines of insurance.